Info-tech

Matrimony.com to acquire 26.1% stake in Astro-Vision

Our Bureau Chennai | Updated on February 05, 2020 Published on February 05, 2020

Chennai-based Matrimony.com has signed a definitive agreement to acquire a 26.1 per cent stake in Astro-Vision Futuretech, promoters of Clickastro.com.

The stake is through fresh infusion of capital in Astro-Vision, and the transaction is subject to customary closing conditions and regulatory approvals. The transaction cost was not disclosed.

Astro-Vision, since its inception in 1984, has been promoting Vedic-based astrology solutions by providing astrology content and software in 10 Indian languages, and has generated more than 110 million horoscopes till date, the company claims.

Its portal provides algorithm-based, personalised and multi-lingual astrology content, and has around 40,000 daily visitors and creates over 25,000 reports every day, said a press release from Matrimony.com

It has also developed mobile astrology applications for end consumers and astrologers, with more than 10,000 mobile app downloads per day.

Matrimony.com and other leading matrimony service providers have been using astrology services offered by Astro-Vision, the release claimed.

Meanwhile, for the third quarter ended December 31, 2019, Matrimony.com reported a net profit of ₹6 crore, a 17 per cent decline over the corresponding period last year.

Its revenue grew 6 per cent to ₹90 crore, the release said.

On BSE, the company’s stock price closed at ₹436.85, down by ₹17.50.

Published on February 05, 2020
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